BHG Retail REIT’s H2 2020 DPU Up 19.1%
March 1, 2021 – BHG Retail REIT announced a distribution per unit (DPU) of 1.06 Singapore cents, up 19.1% from the DPU recorded in the first half of 2020.
H2 2020 gross revenue of S$32.8 million grew 17.8% over the first half 2020, albeit 20.1% lower against the corresponding period last year.
Ms Chan Iz-Lynn, Chief Executive Officer of BHG Retail Trust Management Pte. Ltd., said, “China’s swift and effective pandemic management has enabled them to be one of the earliest countries to stem the wave of infections. China’s economic recovery accelerated expeditiously in the latter half of 2020. Notwithstanding this, BHG Retail REIT embarked on a few key initiatives including Beijing Wanliu’s supermarket resizing and Chengdu Konggang’s outdoor night market enhancement. In addition, the REIT’s sponsor also launched its very own e-commerce platform amid the pandemic.”
“The development of the platform shall widen our malls’ outreach to omni-channel shoppers, at the same time provide impetus to tenants’ digitalization journey. Situated in high population density neighbourhoods, our community malls continue to benefit from recurring visits by shoppers in its immediate surrounding precinct. Moving forward, the Manager will remain agile and focused to drive organic growth, and continue our efforts to build upon the existing portfolio.”
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